Step 4: Payment
A buyer is expected to bring to the closing all the necessary funds needed to fulfill the transaction. A bank check is the typical form of payment. Companies offering mortgages are: GS Mortgage Securities, Marshall and Isley, Sonada Financial Group, and Collateral International. The terms of a typical mortgage are include:
- 10-20% down payment
- Interest rates of 8-11%
- 20-30 year terms
- Minimum loan amount of $100,000
- Maximum loan amount of $5,000,000
Property Insurance
Purchasing casualty insurance is not a requirement for closing and hence is not a common practice.
Real Estate Buyers
If you are considering purchasing land in Mexico it’s very important to get proper representation.
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